Robinhood introduces a new Debit Card that will Automatically Invest in Stocks and Crypto as you spend
Investing can be a powerful way to build wealth, but for many people, it can feel out of reach. That’s why Robinhood is creating the Robinhood Cash Card to help a new generation start investing journey—and get rewarded—while spending on the things they need and love. The Cash Card builds on the company’s mission to democratize finance for all by giving debit card customers the same benefits and rewards that were once reserved for credit cardholders. The Cash Card will be offered by Robinhood Money, LLC.
Here’s how it works
Get a weekly bonus on round-ups
When customers invest in themselves, Robinhood Money will give them a bonus of 10-100% (capped at $10) on their weekly round-ups. As they spend, customers can choose to round up their change to the nearest dollar and invest it in their choice of assets.
Instant Savings (coming soon)
With inflation on the rise, and people paying high prices on their everyday needs from gas to groceries, starting this summer, we’ll help Cash Card customers beat inflation by giving them savings when they shop at some of their favourite spots like H&M, Chevron and Chipotle, with many more coming soon.
Get paid early & split your paycheck
Customers can set up their direct deposit and apply to get access to their paycheck up to two days early. They can also use Robinhood’s split your paycheck feature to automatically invest in assets in their brokerage and crypto accounts.
No Hidden Fees
This is spending the Robinhood way —no monthly fees, no subscription fee, no in-network ATM fees, no overdraft fees and no account minimum fees that cut into the customers’ investments.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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